Montana Statutes
§ 7-12-4224 — Lien Arising Due To Loan From Revolving Fund
Montana·Title 7 LOCAL GOVERNMENT·Ch. 12 IMPROVEMENT DISTRICTS·Part 42 Special Improvement Districts Continued
7-12-4224 . Lien arising due to loan from revolving fund. Whenever any loan is made to any special improvement district fund or sidewalk, curb, and alley approach warrants from the revolving fund, the revolving fund has a lien for the amount of the loan on all unpaid assessments and installments of assessments on the district, whether delinquent or not. The lien also applies to all money coming into the district fund up to the amount of the loan, together with interest on the loan from the time it was made, at the interest rate that is borne by the bond or warrant for which the loan was made and that was determined at the time the loan was made, even if the interest rate on the bond or warrant subsequently changes.
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Legislative History
En. Sec. 4, Ch. 24, L. 1929; re-en. Sec. 5277.4, R.C.M. 1935; amd. Sec. 4, Ch. 255, L. 1971; R.C.M. 1947, 11-2272(part); amd. Sec. 10, Ch. 162, L. 2001.
Nearby Sections
15
§ 7-12-1101
Short Title§ 7-12-1102
Purpose§ 7-12-1103
Definitions§ 7-12-1104
Through 7-12-1110 Reserved§ 7-12-1111
Establishment Or Expansion Of District§ 7-12-1113
Protest Against Proposed District§ 7-12-1115
Resolution Creating Or Expanding District§ 7-12-1116
Through 7-12-1120 Reserved§ 7-12-1123
Removal Of Board Member§ 7-12-1124
Through 7-12-1130 Reserved§ 7-12-1131
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